Featured Articles

AMD sheds light on stacked DRAM APUs

AMD sheds light on stacked DRAM APUs

AMD is fast tracking stacked DRAM deployment and a new presentation leaked by the company  points to APUs with stacked DRAM,…

More...
Nvidia officially launches the 8-inch Shield Tablet

Nvidia officially launches the 8-inch Shield Tablet

As expected and reported earlier, Nvidia has now officially announced its newest Shield device, the new 8-inch Shield Tablet. While the…

More...
Intel launches new mobile Haswell and Bay Trail parts

Intel launches new mobile Haswell and Bay Trail parts

Intel has introduced seven new Haswell mobile parts and four Bay Trail SoC chips, but most of them are merely clock…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
AMD A8-7600 Kaveri APU reviewed

AMD A8-7600 Kaveri APU reviewed

Today we'll take a closer look at AMD's A8-7600 APU Kaveri APU, more specifically we'll examine the GPU performance you can…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 01 November 2007 12:31

Garmin offers bid for Tele Atlas

Written by David Stellmack

Image

Despite TomTom’s deal with Tele Atlas


Garmin Ltd.
, a navigation device manufacturer, has made an unsolicited offer for digital map provider Tele Atlas N.V., a Dutch company engaged in the development, production and sale of digital map data and dynamic content, for 24.50 euros per share (€2.3 billion or $3.3 billion). 

This was unexpected, as Tele Atlas had previously been in acquisition discussions with TomTom NV for 21.25 euros per share. Net of the cash on Tele Atlas' balance sheet, Garmin's offer is worth about 2.1 billion euros and TomTom's is worth 1.8 billion euros.

The leadership role in the rapidly growing navigation devices industry has been up for grabs and a showdown had been anticipated after mobile telephone manufacturer, Nokia, engineered an $8.1 billion takeover of NAVTEQ Corporation, a U.S. provider of digital map information for automotive navigation systems, mobile navigation devices and Internet-based mapping applications.  NAVTEQ was Tele Atlas’s main competitor.

Garmin indicated that it would launch its official offer by December 4th, the day that TomTom’s prior offer for Tele Atlas expires, with Garmin’s offer conditional on Tele Atlas tendering at least 66.67 percent of its shares. Analysts have indicated that TomTom could bid higher for Tele Atlas, as its shares could be worth as much as 30 euros per share, but it would cost TomTom millions; they have also indicated that TomTom made a strategic error not to bid on Tele Atlas when its shares were well below their current price.

Read more here.


Last modified on Thursday, 01 November 2007 12:51

David Stellmack

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments